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An entry account for new companies

RAKstarter is RAKBANK's entry-level business account for new companies, carrying no ledger or minimum balance fee. It supports AED, USD, EUR and GBP with an unlimited chequebook facility.

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What RAKBANK RAKstarter typically asks for

Prepare the application file

01Corporate documents6 items
  • ✓ Trade licence (issued and active)
  • ✓ Memorandum & Articles of Association (MOA / AOA)
  • ✓ Certificate of Incorporation & share certificates
  • ✓ Registered office lease (Ejari / free-zone lease)
  • ✓ Board resolution to open the account
  • ✓ Establishment card / immigration card
02Shareholder & signatory KYC6 items
  • ✓ Passport + UAE visa page for every UBO ≥ 25%
  • ✓ Emirates ID (both sides) for resident signatories
  • ✓ Proof of address (utility, tenancy or bank statement, ≤ 3 months)
  • ✓ CV / bio for each UBO and signatory
  • ✓ Source-of-wealth & source-of-funds statement
  • ✓ Ownership & control chart if a corporate shareholder exists
03Business file5 items
  • ✓ One-page business brief: activity, geographies, counterparties
  • ✓ 12-month cash-flow forecast (incoming / outgoing volumes)
  • ✓ Sample invoices, contracts or LOIs (if trading)
  • ✓ 6-month bank statements for the parent or personal accounts
  • ✓ Website or short deck (helps for services / tech)
Three colleagues in discussion at a table by a window

What RAKBANK RAKstarter is good for

  1. Payments & currencies

    Four-currency operation

    AED, USD, EUR and GBP accounts available.

    Unlimited chequebooks

    Unlimited chequebook facility with one free book per year.

  2. Access & relationship

    True zero balance

    No ledger fee and no minimum balance fee on the account.

    Startup-day-one design

    The bank states the account is designed to support startups from day one.

  3. Trade & financing

    Financing pathway

    Exclusive business financing offers accessible to account holders.

    Credit interest tiers

    Published tiered interest on larger AED and USD balances.

Account thresholds and practical considerations

Minimum balance

RAKstarter Account (conventional)
Zero balance; no ledger or minimum balance fee
RAKstarter Account (Islamic)
Not publishedFigure not published on the page fetched.

  • Currencies

    AED, USD, EUR and GBP

  • Debit & corporate cards

    Issued after account is funded.

    Corporate card limits scale with balance and turnover.

  • Trade finance

    Not published

    Not stated on the RAKstarter page; exclusive business financing offers are referenced.

Who usually opens here

Stronger fit
  • Sample fileNewly licensed UAE startup
  • ShareholdersOne or two founders with UAE residence in place or in process
  • OfficeFlexi-desk or small office with tenancy documentation
  • Trade laneDomestic services or early cross-border invoicing
  • Expected turnoverPre-revenue to AED 2m in year one
  • Evidence readyTrade licence, MOA, founder IDs, business plan
May need more context
  • Product needsCompanies needing immediate trade finance lines
  • Activity typeHigh-volume cash businesses with heavy teller requirements
  • Ownership structureNon-resident-owned structures with no UAE operations
  • Product needsLarge corporates needing treasury and cash management
  • Onboarding modelApplicants wanting a guaranteed opening date

Choose the bank that matches your file

Choose if

  • A small or growing UAE business
  • Comfortable with the AED 25,000 average balance on the Business Current Account
  • You want a long-standing small-business franchise with AED, USD, EUR and GBP

Choose if

  • UAE-resident founder with straightforward digital or services activity
  • Clean UBO chain and no cash-heavy model
  • You want a digital-native bank built for straightforward SME profiles

Mashreq NEO Biz

Choose if

  • A small-business, digital-first profile
  • Annual turnover up to AED 10 million
  • Online application and multi-currency accounts backed by Mashreq

Why RAKBANK RAKstarter applications stall

No business evidence

Startups with no contracts, website or plan give reviewers little to assess.

Founder residency pending

Visa and Emirates ID still in process delays signatory setup.

Activity risk flag

Certain licensed activities trigger enhanced due diligence.

Address proof missing

Flexi-desk-only presence with weak tenancy documents.

Unclear funding source

Initial capital that cannot be traced to a documented source.

Product mismatch

Applicants needing facilities that a zero-balance starter account does not carry.

Check banking fit before you apply

Your licence route, activity, and profile affect which banks are realistic. Tell us the setup and we’ll tell you whether this bank is a fit, what the pack needs, and what to fix before submission.

  • A dedicated specialist reviews your case.
  • Fixed scope in writing before any work begins.
  • Avg reply 3 minutes on WhatsApp, 24 × 7.

Request a consultation

What clients say

Frequently asked

Is RAKBANK RAKstarter suitable for every UAE business?
No bank is right for every application. RAKBANK RAKstarter may suit some companies, but practical fit depends on the business activity, ownership, source of funds, expected transaction profile, required currencies and services, documents, and the bank’s current onboarding appetite.
Can Sonsoto guarantee a RAKBANK RAKstarter business account?
No. RAKBANK RAKstarter makes its own final decision after its KYC, compliance, and risk review. We can help prepare a clear application, coordinate the supporting documents, and assess sensible banking options, but approval remains entirely bank-led.
What documents may RAKBANK RAKstarter request?
The requirements vary by company and applicant profile. They may include company documents, shareholder and director identification, ownership records, a clear business explanation, expected transaction details, source-of-funds evidence, and commercial support such as contracts, invoices, or a website where relevant.
Do all shareholders need to attend a bank application?
Not always. Attendance requirements depend on the bank’s onboarding policy, applicant profile, ownership structure, signatory arrangements, and account type. Some cases require in-person verification or original-document review. We confirm the practical requirement before submission.
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Refer a client. Get paid.

Send the case. We do the work. You get paid.

Become a referral partner

Earn up to AED 5,500 per client

More clients onboarded, higher payout.

Paid within 30 days of completion

Straight to the account.

Tiered rewards as you scale

More referrals unlocks higher payouts.

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